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Tag: Miniso

  • Miniso to open its first UK ‘Blind Box’ store

    Miniso to open its first UK ‘Blind Box’ store

    Chinese lifestyle brand Miniso will open its first UK “Blind Box” store on Shaftesbury Avenue, London on September 29.

    The new store will offer customers more than 50 blind boxes, capitalizing on the blooming blind box craze. According to Miniso, the new store “represents an exciting new shopping experience”, bringing Miniso’s characteristic sense of choice to the heart of downtown London.

    The new 40sqm store will house Miniso’s co-branded blind box collections with some of the IP owners. Shoppers will find Sanrio, Disney Pixar, Tokidoki, We Bare Bears, Minions, and Winnie the Pooh blind boxes. Miniso’s original products, including plush toys and accessories, will also be available at the store.

    “Our first blind box store marks a major milestone for Miniso,” said Saad Usman, COO of Miniso UK.

    “The unknown element of blind boxes adds mystery and excitement to the shopping experience, and we’re delighted to bring this special store to London. Blind boxes are now a major part of our global strategy, and this new store marks the latest development as we move forward with our global expansion.”

    Launching Miniso’s first “Blind Box” store is the latest step in the brand’s ongoing global expansion plan as it strives to become a global lifestyle super-brand. The company has around 5800 outlets worldwide, with more than 20 of them located in the UK, including London, Manchester, Nottingham, Belfast, and others.

  • Miniso opens new flagship store in Times Square, NYC

    Miniso opens new flagship store in Times Square, NYC

    Chinese discount variety store Miniso will open a flagship store in New York City next month, a move it describes as its biggest milestone since its foundation in 2013.

    The new store, located on the first floor of 5 Times Square, will offer customers almost 2000 different products.

    The new flagship will feature an updated design and nine distinct zones, including licenced collections, blind box collectibles, toys, plushies, fragrances, accessories, makeup tools, snacks, and gifts & stationery.

    According to Miniso, the overall design will be simple and clean, concentrating on licenced products from international brands like Sanrio, Hello Kitty’s parent, which will be included in the window design for the store’s launch. Miniso says it plans to bring more brand collaborations to the US market, including Peanuts, Barbie and Mario Bros.

    “The opening of the Times Square store is a crucial step towards our transformation and upgrade,” said Jack Ye, founder and CEO of Miniso.

    “Times Square is the Crossroads of the World and a hub of business, entertainment and culture. By making a physical presence in one of the busiest pedestrian areas, Miniso appeals to New Yorkers and visitors worldwide and responds to consumer demands for attractive, fun, useful, and affordable products.”

    Miniso unveiled its new worldwide strategy earlier this year, stating that it will convert into a lifestyle superbrand that brings joy to clients worldwide.

    In addition, the Chinese retailer also disclosed to expand into four new markets: Panama, Angola, Trinidad and Tobago, and Latvia, at the beginning of this month.

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  • Miniso opens its first China flagship

    Miniso opens its first China flagship

    Chinese discount variety retailer Miniso has launched its first flagship store in China, after 10 years of running its operation in the domestic market.

    The store is on Chunxi Road, one of Sichuan’s bustling shopping streets, and has a retail space of 1000sqm with almost 7000 stock-keeping units.

    The flagship store sells home items, including products made through licensing arrangements with Disney, Marvel, and the NBA brands.

    With the new launch in Chengdu, Miniso is focusing on the regional consumption potential with larger space and more creative products.

    “Chengdu is a fashionable and vibrant city that has always been at the forefront of trendy consumption,” Ye Guofu, chairman and CEO of Miniso, told local sources.

    “Miniso’s first national flagship store debuted in Chengdu, a trendy brand and city. The collision is also the beginning of Miniso’s global brand strategy upgrade to creating a mainstream business district in a high-potential city and a landmark of IP fashion consumption in a top shopping mall.”

    Miniso also debuted its first ‘fragrance museum’ on the third floor, jointly created by the brand and fragrance company Firmenich.

    Miniso is a fast-growing company in both the Chinese and international markets. As of the end of last September, the company had 5300 stores in 105 markets.

    However, the brand has been criticised for promoting itself as a Japanese-style brand. Last year, Miniso apologised and said that it would implement changes in its stores to address this, becoming the latest retailer to respond to a surge in patriotism among Chinese buyers.

  • Miniso Group reveals management changes

    Miniso Group reveals management changes

    Lifestyle retailer Miniso Group has unvieled a shift in the management board, with executive VP Steven Saiyin Zhang departing.

    According to Miniso, Zhang has resigned as CFO, executive VP, and executive director, effective immediately, for personal reasons and to spend more time with his family. Zhang will continue to work as a senior consultant for the firm.

    Following his resignation, the board will comprise five members: three independent non-executive directors and two executive directors.

    Miniso said it has also appointed Eason Jingjing Zhang, currently the company’s VP of capital markets, as its new CFO.

    “Steven has designed a detailed succession plan to transition his responsibilities to Eason, who has played a key role in driving Miniso’s success in various capital market transactions and several internal finance management projects, demonstrating a clear understanding of our business and establishing confidence in Miniso among the investor community,” said Guofu Ye, founder, chairman of the board and CEO of Miniso.

    Eason Zhang, who joined Miniso in January 2021 as director of capital markets, has been VP of capital markets since September, overseeing all capital markets matters for the company, including investor relations, strategic investment and acquisitions, corporate strategy, and treasury.

    Prior to that, he began his career in auditing at PricewaterhouseCoopers, after which he worked in different capacities mostly in capital markets in the US, Hong Kong, and China.

    Last year, Miniso strengthen its expansion strategy in Canada when reopened its Vaughan Mills store in the Greater Toronto Area and introduced its new “$2 Plus” concept to the market.

  • Miniso launches ‘$2 plus’ concept store in Canada

    Miniso launches ‘$2 plus’ concept store in Canada

    Chinese retailer MINISO unveiled a new “$2 Plus” concept at the re-opening of its Vaughan Mills store in the Greater Toronto Area. The concept reflects MINISO’s aim to provide shoppers with a unique in-store experience while offering excellent value, well-designed products in response to the effects of rising inflation on consumer budgets.

    Having been closed for refurbishment for several months, MINISO’s store at Vaughan Mills, one of the largest shopping malls in Canada, re-opened its doors to shoppers with a brand-new look. Inspired by MINISO’s original creation, the MINI Family of adorable animal characters, the store’s remodeled interior embodies the brand’s lively and youthful atmosphere and reflects the company’s intention to feature more of its own original products.

    The revamp heralds MINISO’s new direction in Canada, introducing the brand’s all-new “$2 Plus” concept to local consumers. The concept sees MINISO take inspiration from the much-loved dollar store as a means of offering customers products at low prices, while the brand provides more diverse and higher quality goods than traditional low-cost retailers. As inflationary pressures grow, MINISO’s long-standing Chinese supply chain capabilities ensure customers, who are increasingly cost-conscious, can rely on the “$2 Plus” model for quality, affordable, design-led products today and into the future.

    “Ever since we first set foot in Canada in 2017, our ambition has been to provide customers with well-designed products at reasonable prices, as well as enjoyable shopping experiences, and the ‘$2 Plus’ concept is our way of further realizing this. With affordable prices and a unique treasure hunt shopping experience in-store, our ‘$2 Plus’ stores aim to be the go-to place for everyone looking for quality lifestyle products on a budget,” said Bella Tu, General Manager of MINISO Overseas Operations.

    The Vaughan Mills store is one of the first four stores to be refashioned for the “$2 Plus” concept. Three other stores, in the Scarborough district of Toronto, Markham, and Vancouver, also opened on the same day. The remaining MINISO stores in Canada are slated to undergo similar makeovers soon.

    MINISO has opened 50 outlets across Canada since May 2017. The brand is well-known for its licensed collections with Marvel and Disney, We Bare Bears, Coca-Cola and more.

  • Chinese retailer Miniso to ditch Japanese styling after backlash

    Chinese retailer Miniso to ditch Japanese styling after backlash

    Chinese budget retailer Miniso Group Holding Ltd. apologized for styling itself as a Japanese designer brand and said it would change its logo, amid a wave of local nationalism fueled by geopolitical tension over Taiwan.

    The Guangzhou-based company has long promoted itself as Japanese-influenced, with a Japanese chief designer and Japanese characters on its shopping bags and marketing language. This, it said in a statement on Miniso’s official Weibo account Thursday, was “wrong.”

    “We used wrong brand positioning and marketing campaigns during the early days,” the statement said. “We feel regret and guilt.”

    The seller of cheap household goods has been “removing” Japanese elements since 2019, including re-designing its logo and shopping bags to change Japanese characters to Mandarin ones in its more than 3,000 local outlets, said the statement. It will also more closely police overseas units.

    The pivot comes after Miniso became a target of nationalistic social media users due to an Instagram post by its Spanish unit in July that described a cheongsam-clad toy as a Japanese geisha. It apologized then as well, but pressure has grown as the China-Japan relationship deteriorated after U.S. House Speaker Nancy Pelosi’s controversial visit to Taiwan earlier this month.

    China called off a face-to-face meeting between Foreign Minister Wang Yi and his Japanese counterpart over a Group of Seven statement expressing concern about Beijing’s “threatening actions” around Taiwan during and after Pelosi’s visit.

    The Miniso pivot is another example of how consumer nationalism in China has become a minefield for brands to navigate, with companies ranging from Mercedez-Benz Group AG to Hennes & Mauritz AB. being boycotted for perceived slights in recent years. It also reflects how “foreign” elements have now become a liability in China, a sea change from several years ago when Miniso capitalized on the popularity of actual Japanese chains like Muji to lure local shoppers.

    Anti-Japanese sentiment is growing across the country. Local media reported that a young woman was detained and interrogated by police last week after wearing a kimono for a photo shoot in the eastern city of Suzhou.

    Officials in Tokyo have become increasingly outspoken about the importance of Taiwan’s national security to Japan’s own stability, a development that has sparked anger in China, which considers Taiwan part of its territory.

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  • Miniso opens first Malaysian flagship store

    Miniso opens first Malaysian flagship store

    On June 17, lifestyle retailer MINISO introduced a brand-new store format through the launch of its first flagship store in Selangor, Malaysia. The 684.6m2 retail space is located in Setia City Mall, one of the largest shopping complexes in Shah Alam, Selangor.

    The new store concept, referred to as MINISO 3.0, puts an emphasis on a family-friendly shopping experience. Every member of the family has somewhere to shop and something to enjoy in the store.

    The biggest difference between the flagship store and other MINISO stores is its brand-new toy section. It presents not only popular licensed products from world-renowned intellectual property owners, but also MINISO’s original MINI Family collection.

    The toy section occupies 20% of the retail space in the store and appeals to shoppers the most. This section also incorporates trendy and modern design in the decor and display, featuring a unique plushie wall, blind box wall, and a play area for building bricks.

    “The dedicated toy section allows every MINISO customer to experience the immense fun and joy brought about by our toys, while enjoying the treasure hunt shopping experience in our store,” said Vincent Huang, Vice President of International Business Department at MINISO. “The flagship store truly speaks our belief – ‘Life is for fun’.”

    In addition to toys, the Selangor flagship store has a fragrance feature wall showcasing a variety of MINISO’s scented products, including perfumes and home fragrances.

    This addition was made after MINISO noticed many Southeast Asian consumers were more interested in shopping for fragrances or scented products. One study put that figure at around 72%. Pricewise, the majority of products available in the store range from RM10 to RM20.

    “Malaysia is a melting pot of ethnicities, religions and cultures. These inspire MINISO to reflect diversity in our products and stores,” Vincent added. “MINISO first entered the Malaysian market in 2016 and saw huge potential in the country. We’re delighted to announce the grand opening of our first and biggest flagship store here. I’d like to take this opportunity to thank our customers who have supported MINISO over the years, and our partners who have grown with us.”

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  • Miniso eyes Hong Kong stock market listing

    Miniso eyes Hong Kong stock market listing

    Miniso Group Holding, the New York-listed Chinese household and consumer goods retailer, is planning a second listing in Hong Kong, joining an increasing number of US-listed mainland companies seeking a listing closer to home.

    The retailer submitted its application to Hong Kong stock exchange on Thursday, according to the bourse’s website.

    The Guangzhou-based company is following in the footsteps of electric-vehicle makers Li Auto and Xpeng in seeking a dual primary listing in Hong Kong to hedge against the risk of being delisted from US exchanges. Legislation introduced by the Trump administration in 2020 seeks to delist Chinese companies that fail to pass US audit reviews for three consecutive years, and the Biden administration is not letting up.

    Miniso raised US$608 million from its IPO on the New York Stock Exchange in October 2020. The company’s shares, however, have fallen more than 66 percent since listing and were trading at US$7.88 on Thursday.

    Miniso’s revenue increased by 24.2 percent to 5.42 billion yuan (US$853.5 million) for the six months ended December 2021, while adjusted net profit rose 114 percent to 398.6 million yuan, according to its listing application.

    The company said it expects to see strong growth because of China’s booming retail and pop toy market.

    The estimated growth rate of the pop toy market in China, which saw gross merchandise value (GMV) reach 34.5 billion yuan in 2021, is 24 percent from 2022 to 2026, according to Miniso’s filing, citing data from Frost & Sullivan.

    Miniso, which opened its first store in China in 2013, has built a global network with over 5,000 stores in around 100 countries, including 3,100 in China as of end 2021.

    The aggregate GMV of products sold through its network was about 18 billion yuan in 2021, making it the largest global branded variety retailer of lifestyle products, according to Frost & Sullivan.

    BofA Securities, Haitong International Capital and UBS are the joint sponsors.

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  • Miniso opens New York 10 N’ Under flagship

    Miniso opens New York 10 N’ Under flagship

    Chinese discount retailer, Miniso, has set foot in Soho, New York’s most expensive borough, with a 10 N’ Under flagship store as part of its North America expansion.

    Spanning 7974 sqft, the flagship is located at 490 Broadway within a heritage-listed building, offering 3000 products, most of which cost less than US$10. The product range includes over 100 types of Miniso’s signature plush toys, along with licensed products from Disney and Marvel.

    Inspired by the NYC skyline, the store’s interior design is designed by GH+A Design Studio, which has also previously worked with Canada Goose, Aeropostale, and Mercedes-Benz.

    “New York City is critical to our expansion plans in North America,” said Andrew Xie, general manager of Miniso North America. “The flagship store gives us the opportunity to bring well-designed, functional, and fun products to New Yorkers—all under $10 n’—in historic, trendy SoHo neighborhoods.”

    “Our success with the Soho pop-up store last year proved that there is a market for us here,” he said.

    Currently, Miniso has over 100 stores in North America that operate under the 10 n’ Under concept and 5000 outlets worldwide. The retailer said it was eyeing higher growth this year.

    #Miniso #opens #York #10N #flagshi#Source #Miniso opens New York 10N under the flagship.

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  • Miniso to rebrand US stores as $10 N’ Under banner to attract Gen Z

    Miniso to rebrand US stores as $10 N’ Under banner to attract Gen Z

    As Chinese discount retailer Miniso opened its 5000th store this week, the company said it would rebrand all of its US stores $10 N’ Under.  The 5000th store is located in Boston, and was one of four US stores to open on the same day. In a statement, the company said its expansion in North America was among its fastest rollout internationally.

    While the company has built a presence in 100 markets since its 2013 debut, the bulk of its network is in Greater China. Expansion in other countries has seen mixed results, but the company says its US strategy of using the $10 N’Under banner is winning over Gen Z consumers.

    “The strong market response towards our $10 N’ Under stores validates our strategy to cater to Gen Z who place a premium on value: they want trendy, quality products at an affordable price,” said Andrew Xie, GM at Miniso North America.

    Existing US Miniso stores will be rebranded by the end of this month, by which time the retailer expects to have 100 stores operating across the country.

    Xie says store deco will be unique to certain US locations. “For instance, its SoHo pop-up in New York City features a wide variety of plush toys and pillows exuding warmth and comfort.”

    Elsewhere in the world, the company plans to continue to expand, but in the statement said it would “proactively respond to changes in different markets” suggesting it is aware its offer may not suit all regions. Outside China, it has stores in the UK, Italy, Spain, India, Mexico, Singapore, Vietnam and Australia, offering products ranging from homewares cosmetics, toys and food.

    Next year it plans to expand its offer to attract Gen Z shoppers, adding scented products, plush toys, and “fun accessories”. “Miniso will localise its product portfolio based on market trends to meet local consumer needs,” said overseas VP Vincent Huang.

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  • AuMake and Miniso to launch dual-branded stores in Sydney

    AuMake and Miniso to launch dual-branded stores in Sydney

    The specialist retailer in Australia and New Zealand, Aumake Limited shared on Thursday that it has entered into a distribution agreement with a Japanese-inspired lifestyle product retailer MINISO Master Franchisee Pty Ltd (MINIS0).

    As per the agreement, MINISO will provide operational support and products to three of Aumake’s physical stores initially, strategically picked for their high foot traffic locations and traction with Asian customers.

    The key terms of the distribution agreement include:

    • Initial physical stores are located in Chinatown, World Square CBD and Burwood in Sydney, NSW.
    • Physical stores to be dual-branded as Aumake and MINISO.
    • MINISO will pay Aumake a percentage of sales (GST incl.) in exchange for using Aumake’s premises to sell the products.

    Aumake’s deal with MINISO creates a significant revenue opportunity and subsequent reduction in overhead costs due to increased physical foot traffic, especially when the restrictions on international borders are likely to be eased for Asian tourists and international students in the coming weeks.

    In addition, the cooperation between the two companies will also provide Aumake with an opportunity to introduce and expand new skincare and cosmetic brands.

    Meanwhile, the stock AUK was spotted trading 10% higher at AU$0.016 per share at 2:00 PM AEDT.

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  • Miniso continues to post strong growth as Covid’s impact eases

    Miniso continues to post strong growth as Covid’s impact eases

    Chinese discount goods retailer Miniso has reported strong first-quarter sales and profit growth for the three months to September 30 as its store network continues to expand internationally.

    Sales surged 28.1 percent to US$411.9 million and adjusted net profit to $28.6 million, 80.3 percent higher year on year and 27 percent quarter on quarter.

    As of the end of September, Miniso operated 4871 stores, with a net addition of 122 stores during the quarter.

    “In spite of the headwinds from the resurgences of the pandemic, rainstorm disaster and weak consumption data in the domestic market in this quarter, we executed our strategies well and our domestic operations recorded an encouraging performance, while our overseas operations moved further along the path of recovery,” said founder, chairman and CEO Guofu Ye.

    Part of the growth rate has been attributed to the company’s development of new retail channels, including Top Toy stores, of which 39 opened during the quarter.

    While the bulk of the store network is in China (3035), the number of overseas stores grew to 1836.

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  • Miniso is growing at a speed of one new store a day

    Miniso is growing at a speed of one new store a day

    Miniso, a leading lifestyle product retailer, has opened 364 brick-and-mortar stores globally in the last 12 months, an average pace of one per day – bucking pandemic retail trends.

    The latest was the mid-May new store opening in the cultural hub and university city of Lille, France. It is the country’s third MINISO location, and the 10th opening in Europe this month alone– indicative of both the retailer’s accelerated global expansion and its buildout into smaller cities.

    Fueled by a boom in toy sales and e-commerce in its home market of China, MINISO is looking to replicate and localize these successes overseas.

    “Online business had been accelerated by the pandemic and will be one of the priorities for the future development of MINISO,” said Robin Liu, Chief Marketing Officer and head of e-commerce at MINISO. “In addition to the existing collaborations with all major e-commerce platforms, MINISO is also digitalizing in other ways.”

    Liu pointed to MINISO’s use of social apps to keep closer contact with customers, implementing an advanced membership system, stationing vending machines, and planning to have more shopping live streams in and outside of mainland China.

    “By implementing these digital retail technologies, we are making shopping at MINISO more convenient and with less physical contact required,” said Liu.

    MINISO’s total revenue for Q3 2021 reached US$340.3 million, representing a year-over-year increase of nearly 37%, as posted in the brand’s unaudited financial results for the third quarter of fiscal year 2021, which ended on March 31, 2021. Net profit was US$22.7 million, representing an increase of 77% from the previous quarter – beating Wall Street analysts’ estimates and setting a new high for MINISO since the outbreak of COVID-19.

    The revenue contribution from online channels, including e-commerce and O2O (online to offline) sales, exceeded 10% for the first time this quarter, reflective of MINISO’s continued efforts to further develop its omnichannel marketing. The retailer’s e-commerce business contributed around US$26.1 million in revenue, increasing 86% year-over-year, with a revenue contribution of 7.7%. The O2O business contributed nearly US$10.7 million in revenue, accounting for 3.1% of total sales.

    The toy category became another new growth engine for MINISO. Toy sales in the China market nearly doubled (189%) compared to last year, and the brand is to duplicate that success in overseas markets.

    In response to the strong market demand, MINISO launched its first independent sub-brand called TOP TOY to serve the higher-end collectibles and art toy markets. Since its debut in latest December 2020, TOP TOY has launched over 2,000 products ranging from US$9 to upwards of a thousand dollars, geared for children to adults. TOP TOY is angling to become a leader in China’s booming toy market, and has opened 25 stores in the last five months – breaking its own sales record in each Chinese market in which it opens.

    TOP TOY is poised to make its international debut in the second half of 2021.

    Since the pandemic hit, MINISO has opened 364 stores in the past 12 months – at a pace of nearly one store per day – contributing to its total of 4,587 stores in China and across 94 overseas markets, according to the retailer’s Q3 earnings report.

    MINISO has performed strongest in China, a market that has rebounded rapidly from COVID-19 implications. In a nod to the retailer’s expansion strategy, notably, nearly 70% of MINISO ‘s new stores were opened in Tier 3 and Tier 4 cities in China. MINISO’s domestic business rebounded strongly in Q3, with a physical store and online e-commerce revenue exploding 69% and 86% respectively, compared to the same quarter in 2020.

    Similarly, MINISO continues to explore smaller international markets.

    “We will continue to make efforts in overseas markets, not only to further develop new markets and existing markets, but also to further localize,” said Vincent Huang, MINISO’s Vice President of International Business.

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  • Miniso plans to roll out new sub brands and concepts

    Miniso plans to roll out new sub brands and concepts

    Miniso has unveiled a new “X strategy” business plan to diversify its business and launch multiple brands this year. The Chinese discount variety store said it will focus on the toy market this year with “Art Toy” as a new strategic product category. The retailer entered the toy sector last year with its new sub-brand “TopToy”, with nine new stores.

    The brand will also ramp up its expansion plan in China and overseas with focus on digitalization. As China is in recovery post-Covid-19, Miniso said it will expand its footprint domestically, mostly in Tier 3 cities and even rural areas. As part of its digitalization strategy, Miniso will launch unmanned stores in China, with products also soon available on all online channels including its self-owned online stores, WeChat mini-programs, and flagship stores on major e-commerce platforms.

    Miniso’s international expansion plan will see the opening of stores in high-populated countries, including India, Indonesia, the US, Mexico and Spain. “Covid-19 is a catalyst that has accelerated our digital transformation and embrace of online channels,” said Robin Liu, chief marketing officer of Miniso. “We will keep broadening our online sales channels.”

  • China’s Miniso makes it’s Parisian debut

    China’s Miniso makes it’s Parisian debut

    MINISO, the Japanese-inspired lifestyle product retailer, opened its inaugural outlet in Paris today. The first store to open in Europe since the company’s successful listing on the New York Stock Exchange earlier this month, it signals continued global expansion for the brand as retail rebounds in Europe.

    Two more store openings are planned in France for this year, and MINISO aims to open additional locations in 2021. The retailer offers around 2,000 creative and low-priced goods ranging from creative home necessities, health and beauty products, fashion accessories and stylish gifts to office supplies, boutique package decorations, digital accessories, as well as food and seasonal products.

    Luxury bargains for fashion-forward consumers

    Shoppers in the chic District 8 now have the choice to purchase sleek goods without worrying about the price tag. Located on 58 Rue de la Chaussée-d’Antin, MINISO’s new store is within walking distance of Paris’ luxury stores, and offers more than 80% of its well-designed, quality products priced at under 10 euros.

    Before officially bringing its international aesthetic to the global fashion capital, MINISO first caught Parisians’ attention by debuting 40 original products at the Manson & Objet Fair last September. Almost exactly one year later, the brand was introduced to the French market by seasoned retail businessman Jonathan Siboni, the President of Luxurynsight.

    “Following much anticipation, I am thrilled to bring MINISO to French consumers. MINISO was a love-at-first-sight story for me at the Maison & Objet Fair last year,” said Siboni. “From the start, Ye Guofu’s vision has been generous and consistent, with an accent on customer experience. We have solid evidence that only being a visionary in retail can lead to also becoming a giant in digital. I was set on bringing this popular brand to the French market the moment I saw their stylish yet affordable products together with their advanced store management, and even more so determined after visiting dozens of MINISO stories throughout Europe.”

    MINISO, too, shares that excitement and eagerly looks forward to bringing its successful brand to France.

    “For MINISO, the French market is one of the most important and influential markets in Europe and across the world. Through our close collaboration with Mr Siboni and his team, we plan to open two other stores in Paris by the end of this year, said Edward Zhu, MINISO regional director. “We are confident that French consumers will increasingly fall in love with the thousands of affordable, quality products that MINISO has to offer.

    International design influence

    In 2018, the company established the MINISO Design Academy (MDA) in order to create more high-quality products that skillfully blend creativity and practicality. As of this June 30, the MDA has teamed up with 25 external partners and 49 brilliant designers from Finland, Denmark, Norway, Spain and South Korea. Their work has won 28 renowned international design awards such as the iF, Red Dot and ‘K Design’. The company is also continuously searching for and cultivating young designers with its MINISO Design Day, participating in art fairs and holding design competitions.

    MINISO opened its first store in Guangzhou, China, in 2013. Following seven years of rapid growth, MINISO has now opened more than 4,200 stores in over 80 countries and regions, including the US, UK, Canada, Australia, Spain, UAE, India, and Mexico. Earlier this month, MINISO listed on the NYSE, becoming the fastest budget chain to go public.